Edwards Lifesciences (NYSE:EW) PT Raised to $110.00 at Truist Financial

Edwards Lifesciences (NYSE:EW) had its price objective hoisted by Truist Financial from $105.00 to $110.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the medical research company’s stock.

A number of other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Edwards Lifesciences from a hold rating to a buy rating and boosted their price target for the company from $86.00 to $103.00 in a report on Tuesday, May 14th. StockNews.com raised shares of Edwards Lifesciences from a hold rating to a buy rating in a research report on Thursday, June 27th. Wells Fargo & Company boosted their price objective on shares of Edwards Lifesciences from $94.00 to $99.00 and gave the company an overweight rating in a research report on Friday, April 26th. Evercore ISI boosted their price objective on shares of Edwards Lifesciences from $89.00 to $91.00 and gave the company an in-line rating in a research report on Tuesday, July 2nd. Finally, The Goldman Sachs Group began coverage on shares of Edwards Lifesciences in a research report on Thursday, May 30th. They set a buy rating and a $107.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $96.13.

Edwards Lifesciences Stock Up 0.8 %

EW stock opened at $86.50 on Tuesday. Edwards Lifesciences has a 52-week low of $60.57 and a 52-week high of $96.12. The company’s 50 day simple moving average is $89.11 and its 200-day simple moving average is $86.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 2.67. The firm has a market capitalization of $52.12 billion, a P/E ratio of 37.28, a P/E/G ratio of 3.20 and a beta of 1.11.

Edwards Lifesciences (NYSE:EW) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Edwards Lifesciences had a net margin of 23.01% and a return on equity of 22.86%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities research analysts anticipate that Edwards Lifesciences will post 2.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the completion of the sale, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Michael A. Mussallem sold 29,350 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.77, for a total transaction of $2,487,999.50. Following the completion of the sale, the director now directly owns 4,486 shares of the company’s stock, valued at approximately $380,278.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bernard J. Zovighian acquired 580 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of $85.74 per share, with a total value of $49,729.20. Following the completion of the acquisition, the chief executive officer now owns 3,268 shares in the company, valued at approximately $280,198.32. The disclosure for this purchase can be found here. In the last three months, insiders sold 81,099 shares of company stock valued at $7,003,553. Company insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC grew its position in Edwards Lifesciences by 0.5% in the 2nd quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares during the last quarter. Martin Capital Advisors LLP grew its position in Edwards Lifesciences by 0.5% in the 4th quarter. Martin Capital Advisors LLP now owns 25,490 shares of the medical research company’s stock worth $1,944,000 after purchasing an additional 128 shares during the last quarter. City State Bank grew its position in Edwards Lifesciences by 16.5% in the 2nd quarter. City State Bank now owns 917 shares of the medical research company’s stock worth $85,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. grew its position in Edwards Lifesciences by 1.7% in the 1st quarter. Chapin Davis Inc. now owns 8,548 shares of the medical research company’s stock worth $817,000 after purchasing an additional 140 shares during the last quarter. Finally, Johnson Financial Group Inc. grew its position in Edwards Lifesciences by 23.0% in the 4th quarter. Johnson Financial Group Inc. now owns 771 shares of the medical research company’s stock worth $59,000 after purchasing an additional 144 shares during the last quarter. 79.46% of the stock is currently owned by institutional investors and hedge funds.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.